This smoothed RSI indicator is designed to allow users to try and identify periods of extended time in oversold and overbought areas using a smoothed RSI value.
- Smoothed RSI - Period - Moving Average Type - Visibility
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Clarified the names of some inputs, and added options to that the overbought and oversold levels could be customized. I also changed the default values to use DEMA with a 17-period lookback for the smoothing as this seemed to find peeks slightly better.
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Changed color from green to blue on RSI.
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Now includes calculated midpoint. (oversold + overbought) / 2.
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Updating image.
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Added a histogram to show the difference between the actual RSI and Smoothed RSI.
Also, added arrows above and below the 0 line to show when the Smoothed RSI changes directions.
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Fixed a plot issue where the shapes were bound to the price of the symbol instead of the bottom bar.
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Fixed some settings with plotted items to make them more attractive.
Note, the midpoint was removed earlier.
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Added a smoothed histogram line with selectable period and ma type.